Saturday 25 July 2015

BUSINESS ENVIRONMENT
1.

Mr. Prasanth Gupta is the owner and manager of a grocery store. He attended a management seminar. The topic was on globalization and impact of technology on business. He was shocked by many television ads and mailers to see different opportunities available on the internet for his expansion. To upgrade the technology in his business outside the city and he feels internet does not have any application to the retail industry. What should Mr. Prasanth do to avoid any negative impact of the changes in business environment? By adopting technological environment what values Mr. Prasanth can exhibit in his business?

1. Responsibility to use resources

Care for his customers

Adaptability

Commitment to serve the stakeholders in a better manner.

2. Decline in interest rates on housing loans declared by RBI. Name the component of business environment. What values we inculcated by this component of business environment?

Context: Economic environment Values:

Rising standard of   living.

Economic development.

Distribution of wealth.

Encouragement of middle class sections.

3. Alcohol beverages are prohibited to be advertised on media’. Which component of 
general environment prohibits advertise? What values are boosted by the government?



Welfare of the family/society, Protection, care for the society, Reduction of prevalent social evil

A biding the law.

4. The government restricted the use of LPG cylinders to only nine per family per year. Name the dimension of business environment highlighted in the above. Explain the dimension. What is the value hereby elicited by the government? Economic Environment

Encouraging the use of alternate resources.

Economically usage of commodities

Proper utilization of scarce resources

To be conscious to live within limited budget of available commodities

5. Demand for reservation in jobs for minorities’.
Identify the type of dimension of business environment. State the values promoted in the above case.
Social Environment Preferences to minority section

Improve their standard of living Being considerate Equality

6. Male CEO's are most preferred for all type of organization.
Don’t you think female?
Executive need to have a fair chance? If so give valuable suggestions.
(a) Women empowerment. Equality recognizing the talent.



Value based questions & answers

Value based questions & answers :



Shiva Ltd. was not performing well. After detailed analysis it was discovered that workers of the Production Department were not satisfied with the behavior of Mr. jay, the production manager, as workers were forced to work for long hours without any rest. Keeping this in view this the management decided to replace Mr. Ajay with Mr. Vijay who had recently completed his M.B.A. from IIM Ahmadabad. Mr. Vijay did a detailed analysis of work which involved heavy manual labour. He allowed small pauses to the workers so that they could recharge their energy for optimum contribution.
a)       Name and explain the technique of Scientific Management adopted by Mr. Vijay. b)

He further desires to find out the best ways of doing a job. Suggest to him the technique of scientific management.

b)      State the `Values’ emphasized by allowing small pauses to workers.

 Ans: a) Fatigue study - seeks to determine the amount & frequency of rest intervals in completing a task. Helps the workers to regain stamina and work again with the same capacity. b) Method study) (i) Respect toward employees(ii) Being humane(iii) Care for employees health2)

Tanya and Sharma, having same educational qualifications are working as managers in Alfa Ltd. Tanya belongs to a rural area where employment opportunities are very less whereas Sharma belongs to a urban area. Ignoring many other differences between the two management of Alfa Ltd. appointed them as assistant manager, on the same salary package of Rs.45000 per month
.i) Name and briefly explain the principle of management being followed in the above case.
ii) Identify the values on which Management of Alfa Ltd. emphasis by not differentiating between the two.

Ans: i) Principle of `Equity’ - Similar treatment is assured to employees in similar positions.- Fair & Impartial treatment to employees.
ii) a) No discrimination on any basis. b) Providing equal opportunities to all.
3) Kumar is working in a Shoe manufacturing Co. The management asked him to work overtime so as to produce more in order to meet increase in demand in the market. But he was not paid adequate wages for extra time and so he never contributed to his maximum.
a) Which principle of Fayol is violated in the above case? 
b) Give two positive effects of following the above principle.
c) Which values can be emphasized by following the above principle?
d) Which values are ignored in the above situation?

Ans: a) Remuneration of employees 

b)      i) ensure healthy atmosphere & good relations between the employees and the management .ii) Smooth functioning of the organization.
c) Motivation ii) Respect towards employees
 d) (i) Respect for employees (ii) Motivation(iii) Responsibility and sincerity of the employee(iv) Initiative(v) Co operation4)

Vaibhav, an employee in Yamuna Ltd., was instructed by Mr. Vinayak (Production manager) to increase production of steel due to excess stock of steel. On the other hand, Mr. Madhav (Sales manager) directed him not to increase the steel production as there was low demand for steel in the market.Vaibhav got confused regarding whose order to follow and hence was unable to work in a proper manner. Because of overlapping orders and instructions, Vaibhav was unabletosatisfy both the bosses which led to conflict in the organization)

 Name and explain the principle not being followed.
ii) Give any two advantages of following this principle.iii)

 Name the values that can be gained by following the above principle.

Ans: a) Unity of command b) i) preventing overlapping of activities.
ii) Promotes coordination.
c) i) Avoidance of conflicts .ii) Maintain harmony between supervisors & employees.

5) One of the principles of scientific management emphasizes that to make the
employees learn the `best method’ of production, training to workers is essential. It
Further emphasizes that each person should be scientifically selected and the work assigned to the employees should suit physical, mental and intellectual capabilities

.i) Name and explain the principle of scientific management involved.
ii) Name the principle of scientific management which is concerned with selecting the best way of performing a job through application of scientific analysis and not by intuition or hit and trial methods.iii)

 Name the value emphasized by following the principle in part (a)above.

Ans: i) Development of each and every person to his or her greatest efficiency & ability.- Employees should be selected scientifically.- Efficient employees produce more to earn more.
ii) Science, not rule of thumb
iii)  a) Growth for all  b) Prosperity for workers and Company  c) Caring for employees
 d) Responsible to use resources






Hi class XI students happy holidays to all , but i want to remind you that during these holidays you have to complete you projects of Accounting & Business Studies


Preparation of Project “Business Studies”


Prepare a project on an industry/Business Unit as per your interest : 

1.Project will be started with introduction of industry& selected enterprise.

2. Board of directors details

3. Scope of functioning of the enterprise

4. Various strategies used by business

5. Contribution of enterprise for the development of National economy

6.Customer orientation & public relations of the enterprise

7.Prospects for growth

8. Pictures will also be pasted as per project’s need

9. Project should be hand written

10. There must br compaeison of two similar business untts like: Tata Steel & Jindal Steel , Reliance Vs Idea etc. 


11. Project will be completed by giving proper conclusion.